Gainful employment, other regulatory matters pushed to spring #Gainful #employment #regulatory #matters #pushed #spring Welcome to JibGlobe, here is the new resources we have for you today:
The Biden administration is putting off a final proposal on gainful employment and several other regulatory matters until next spring.
The Office of Information and Regulatory Affairs released an update on several negotiated rule-making agenda items that will not be completed this year and are now scheduled for release in April 2023 at the earliest. This includes a new gainful-employment rule, measures of financial responsibility for colleges, standards of administrative capability, certification procedures and ability to benefit.
Additional regulations on for-profit education have been at the center of the negotiated rule-making process that has been ongoing since January. The gainful-employment rule, which many consumer advocates have been calling on the Biden administration to replace, would create a metric that compares the debt a student takes on compared to the income they earn after graduating from a program to determine a program’s eligibility for federal funding.
The for-profit industry has been concerned that the gainful-employment proposal was rushed and that the accountability metrics would only apply to programs at for-profits and nondegree programs at public and nonprofit universities, generally at community colleges.
“Rushing towards an arbitrary deadline is not helpful for any public policy. We hope with this additional time the department will rethink their fundamental approach to this accountability framework,” said Nicholas Kent, the chief policy officer at Career Education Colleges and Universities, which represents for-profit institutions.